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    5621 Departure Dr, Unit 101 Raleigh, NC 27616

    View on Map
    Sponsored
    For Sale
    $760,000

    COMMERCIAL - Raleigh, NC

    Property size:
    1,833 SF
    Lot size:
    0.50 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 20 at 11:06 pm

    Property Features for 5621 Departure Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    172605086333001 0275269
    Parking
    4
    Interior features
    Entrance Foyer
    Size
    1,833 SF
    Lot size
    0.50 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2023
    Building materials
    Brick, Concrete, Steel Siding
    Roof type
    Aluminum

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    Listing Contact
    Paul Mattera

    Paul Mattera

    Listing agent Paul Mattera

    Listing date Mar 12, 2026

    MLS# 10144257

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Raleigh Commercial Flex Space

    This commercial flex space, located in Raleigh, NC, offers 1833 square feet of space suitable for various business operations. The unit features four individual office spaces, each measuring approximately 10 x 10 or 11 x 10. A walk-up mezzanine, suitable for open office space or storage, measures approximately 22 x 19, with ceiling heights ranging from 7.1 to 7.6 feet. Additional features include an insulated bay door, a 13 x 13 storage area, and an 8-foot-wide staff area. A unisex bathroom measuring 6 x 7 and a small kitchen area with a sink and refrigerator hook-up (6 feet in length) are also included. The property benefits from a private wooden area at the front entry. The annual HOA fee is $2328, and the property taxes are $1572. The surrounding area within a 1-mile radius has a total population of 7,088 and a daytime population of 14,664. The median household income is $58,177, the median age is 33.2, and the median home value is $379,429. The lot size is 0.5 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Oyster Gary D ... Dental Office Tropmann & Oyster DDS Dental Office Dr. Aaron Tropmann ... Dental Office Diamond Stars Baseball Sports Field & Court Sweet T Salon Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Sweet Magnolia Catering, A.MARIE HOSPITALITY GROUP LLC d/b/a Ramelles Catering Services, FULL Plate Catering LLC, Hoppin Around LLC

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.592848
    Latitude
    35.860441

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    FAQs

    What type of property is this?
    Flex space - 1833 sq ft flex space with bayfront drive-in.
    Where is this flex space located?
    The property is located at 5621 Departure Dr, Unit 101 Raleigh, NC.
    What is the asking price?
    The asking price for this property is $760,000.
    What are key features of this property?
    This property features: - New commercial flex space (1833 sq ft) built in 2023.; - Includes four private offices, open mezzanine/storage, and staff area.; - Features a large bayfront drive-in door.
    (919) 632-1374
    Request Owner's contact information
    5621 Departure Dr, Unit 101 Raleigh, NC 27616
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    Raleigh, NC 27616
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5621 Departure Dr, Unit 101 Raleigh, NC 27616
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